ProShares Short Ether ETF (NYSEARCA:SETH – Get Free Report) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 3,224 shares, a decline of 85.0% from the May 31st total of 21,448 shares. Based on an average trading volume of 63,504 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.9% of the shares of the company are sold short.
Hedge Funds Weigh In On ProShares Short Ether ETF
Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in shares of ProShares Short Ether ETF in the second quarter valued at about $1,847,000. Susquehanna International Group LLP bought a new stake in shares of ProShares Short Ether ETF during the 3rd quarter worth about $96,000. Brookstone Capital Management acquired a new position in ProShares Short Ether ETF in the 4th quarter valued at about $628,000. Finally, Simplex Trading LLC grew its stake in ProShares Short Ether ETF by 535.1% in the 4th quarter. Simplex Trading LLC now owns 1,594 shares of the company’s stock valued at $67,000 after buying an additional 1,343 shares during the last quarter.
ProShares Short Ether ETF Stock Down 1.1%
Shares of SETH stock traded down $0.67 during trading on Friday, reaching $58.76. 23,587 shares of the company’s stock were exchanged, compared to its average volume of 58,636. ProShares Short Ether ETF has a twelve month low of $29.20 and a twelve month high of $65.06. The firm’s fifty day moving average price is $48.55 and its 200-day moving average price is $47.46.
About ProShares Short Ether ETF
The ProShares Short Ether Strategy ETF (SETH) is an exchange-traded fund that is based on the Bloomberg Galaxy Ethereum index. The fund tracks the inverse (-1x) daily price movements of its underlying index. The fund aims to profit from the price decline of Ether SETH was launched on Nov 2, 2023 and is issued by ProShares.
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